The AI crypto market continues to sizzle, with the top 30 tokens all trading inexperienced in the last 30 days. This pattern has many buyers wondering: how frothy can this high possibly get?
The news follows the highly successful launch of ChatGPT, which was backed to the tune of $10 billion by Microsoft (a large portion of which comes in the form of cloud computing credit via Microsoft’s Azure cloud platform), as well as a renewed push by Alphabet Inc. (Google’s parent company), which reportedly committed to investing no less than $400 million in a ChatGPT rival, Anthropic, late final week.
ChatGPT is already disrupting many work processes and industries. It was the quickest app to reach one million downloads, having done so only five days after its release last December. It has also been integrated into Microsoft Groups, allowing the tool to function as a powerful digital agent and office assistant.
The AI crypto sector’s meteoric rise coincides with institutional investors’ continued interest in the sector. Cathie Wooden, for example, cited the convergence of AI and blockchain in her most recent ARK Make investments report as part of a broader shift in the coming years that may see buyers increasingly look to disruptive improvements in both sectors.
Other analysts, on the other hand, are more skeptical.
According to a recent JP Morgan report based on a survey of 835 institutional buyers from 60 global markets, more than half of those polled believe AI and machine learning will be the single most impactful technology in the coming years. However, the same survey cast doubt on institutional investment in cryptocurrency, with nearly three out of four respondents saying they “don’t have any plans to trade crypto.”
The market capitalization of The Graph (GRT): $1.1 billion
GRT is the most valuable AI crypto by market cap, with a market cap advantage of more than $500 million over its nearest competitor (SingularityNET, which currently has a market cap of $517 million). GRT is a decentralized platform for indexing and querying knowledge from blockchains, explicitly designed for decentralized networks (Web3). It employs a novel indexing and querying mechanism that enables quick and environmentally friendly knowledge retrieval from decentralized sources, making it a critical infrastructure component for decentralized functions (dApps).
What distinguishes GRT from other AI-based cryptocurrencies is its emphasis on providing safe and dependable knowledge retrieval for decentralized functions.
Furthermore, GRT is intended to be a decentralized community in which validators are incentivized to contribute computing resources to index and question knowledge. This makes it a truly decentralized and open platform for knowledge indexing and retrieval, distinguishing it from other centralized options available.
Value: $.13
24H%: +11.6%
7D%: +47.18%
30D: +93.09%
%ATH: -95%
The market capitalization of SingularityNET (AGIX) is $529.62 million.
AGIX is an artificial intelligence market that acts as an ecosystem for AI-related apps and initiatives. It has gained popularity because it emphasizes democratizing AI and enables builders to easily access AI assets, allowing builders to create, share, and monetize AI providers throughout their ecosystem. AGIX ran on Ethereum and Cardano and was created by a team of AI and blockchain consultants led by Dr. Ben Goertzel, who is best known for his work on the Sophia the Humanoid Robotic event.
AGIX was founded to provide a decentralized platform for AI advancement, with Sophia as an example of the technology’s potential. AGIX is now primarily an AI market that allows various actors to use its network. It also has a staking platform that allows AGIX tokens to help preserve the platform’s AI market.
Present Value: $0.43
24H%: +2.35%
7D%: +152.41%
30D%: +491.69%
%ATH: -76%
The market capitalization of Fetch (FET) is $359.54 million.
FET is part of the Cosmos ecosystem and functions as a layer one protocol that allows customers to use its AI-powered peer-to-peer automation bot service. A team of consultants with expertise in AI, blockchain, and cryptography developed it. Humayun Sheikh, Thomas Hain, and Toby Simpson lead the team, all of whom have extensive experience developing intelligent methods and decentralized technologies.
What distinguishes FET is its use of AI and blockchain technology to create a decentralized community for intelligent automation. The community encourages self-organization and provides a platform for developing and deploying various AI-powered decentralized functions. In contrast to Singularity, which is primarily an AI market, Fetch uses brokers to create sensible contracts capable of detecting and carrying out specific capabilities.
Furthermore, FET has a novel consensus mechanism that combines elements of Proof-of-Work (PoW) and Proof-of-Stake (PoS), allowing it to function as a decentralized AI-powered community that allows intelligent automation and self-organizing methods.
Fetch.ai’s digital token is a gateway to the platform’s assets and providers, providing a direct incentive for token holders to actively engage and participate in the community, thereby focusing on intelligent automation.
Value: $0.43
24H%: +15.71%
7D%: +61.83%
30D: +177.88%
The market capitalization of Ocean Protocol (OCEAN): $272.29 million
OCEAN is a massive knowledge mission led by Bruce Pon and AI researcher Trent McConaghy and created by a team of skilled know-how and enterprise professionals.
Ocean was founded in 2017 by the two to serve as a decentralized knowledge storage and privacy service (assume VPN, browsers, and many others). They provide Information NFTs, Information farming, and the expansion of the Ocean DAO and ecosystem. OCEAN’s information NFTs present an IP framework that combines ERC20 and ERC721, allowing several revenue streams to the bottom IP with totally different sub-licenses. OCEAN has also been named to the World Financial Discussion Board’s list of innovators in the knowledge economy.
Value: $0.43
24H: +4.71%
7D%: +18.3%
30D%: +102.81%
%ATH: -77%
The market capitalization of VAIOT (VAI) is $40.34 million.
Although VAI has a low market cap compared to other crypto AIs, with a market cap of only $40.34 million, interest in it appears to be driven by the fact that it provides intelligent services powered by IBM. It provides a portfolio of blockchain-based AI assistants and on-chain Clever contracts for businesses and customers to provide automated services and transactions.
